SEFE, a German gas importer, returns an additional $348 Million in State Aid

The German gas importer,?SEFE, said that it had paid back the German government?almost??300 millions euros ($348million) in state assistance. This brings the total repayments to date to almost 1 billion euros.

Germany has recouped a fifth of its?nearly twenty billion euro bailout of SEFE and 'peer Uniper? during Europe's energy crises in 2022.

SEFE also wants to raise capital to reduce the German government's stake.

SEFE CEO Egbert laege stated that the past three years have shown that SEFE's model of business allows for a reliable and substantial repayment to the German federal government, even in difficult circumstances.

Berlin had to'rescue' SEFE after former owner Gazprom abandoned the division in the spring of 2022. This forced the government to step in to prevent a collapse of Germany’s energy system.

(source: Reuters)